REX INTERNATIONAL . Worth a buy now ?

REX has close to S$90 million in cash/equivalents following the monetisation of interests in certain assets in Norway,

Versus a market cap of S$255 million (share price 20 cents).

On 5 November 2019, Rex announced it will commence drilling an appraisal well in Oman.

Oil prices jump 2% in early trading as tensions in the Middle East mount, Brent crude tops $70

On Friday, Citi global head of commodity research Ed Morse said that Brent prices will top $70 in short order, while Again Capital’s John Kilduff said that if Iraq production takes a hit “oil prices will spike higher.”

www.cnbc.com/2020/01/05/oil-prices-rise-...ddle-east-mount.html

I continue to believe that Russia is playing a rather ham-fisted negotiating ploy here, to engineer its share of the cuts being as low as possible. I fully expect them to sign up for the additional cuts, and their share of those, today. Oil has edged slightly lower in Asia as nerves persist, but once Russia agrees, we could see a relief rally of some sort. Overall though, the cuts are there to support prices at present levels, and not to engineer a supply squeeze that changes the structural price outlook for oil.

-- By Jeffrey Halley, Senior Market Analyst, Asia Pacific, OANDA

REX recovers today, becos ....oil price has become dirt cheap . when something useful is dirt cheap, the people with Deep Deep Pockets start to accumulate.

Oil Rebounds on China Crude Buying and Trump’s Diplomatic Push

finance.yahoo.com/news/oil-futures-rebou...train-044154592.html

Moscow and Riyadh are ‘very, very close’ to an oil deal, says Russia’s sovereign wealth fund chief

www.cnbc.com/2020/04/06/russia-saudi-ara...ction-deal-rdif.html

REX jumped today to 14.1 cents ahead of positive oil price movement.

U.S. oil extends climb to 2-month high above $30, as output cuts and hope for demand pickup boosts values

www.marketwatch.com/story/us-oil-extends...17?mod=mw_latestnews